Dow Jones to merge television channel with CNBC
Tuesday 09 December 1997
Dow Jones, owner of the Wall Street Journal, has a 70 per cent stake in EBN. Flextech, the cable and satellite programmer, has the remaining shareholding. Flextech is to retain its interest, but as a passive investor with no further funding obligations. Flextech said in August that it planned to save pounds 4m a year by discontinuing its investment in EBN. Dow Jones also owns Asia Business News, which is likely to form part of the new entity.
Both CNBC Europe and EBN are understood to make big losses. Some elements of the Bancroft family, which controls Dow Jones, have reportedly expressed concern at the resources soaked up by the group's international TV business. EBN, which launched two years ago, features programmes such as Your Money, a personal finance show; and Media Report, a media news bulletin. The channel broadcasts in English and German, with a half-hour programme three times a week in French.
CNBC Europe set up a year later than EBN, and runs programmes like European Money Wheel and FT Business Tonight. Financial Times Television (FT-TV) recently laid off more than 50 staff in anticipation of the loss of its daily programming contract with CNBC Europe. EBN is expected to replace FT-TV's programmes.
- 1 Michael Brown shooting: Amnesty International sends team within US for first time as National Guard deployed
- 2 James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – and warns Obama of more to come
- 3 Reading Festival 2014: Tesco branch replaces salad and potatoes for Jagermesiter and vodka
- 4 Here’s the damning letter Robin Williams wrote to his Mrs Doubtfire co-star's principal after they expelled her
- 5 Ferguson protests: 90-year-old Holocaust survivor Hedy Epstein ‘arrested’ by police during St Louis demonstrations
Michael Brown shooting: Amnesty International sends team within US for first time as National Guard deployed
Michael Brown shooting: Ferguson police shoot and kill second young black man
James Foley 'beheaded': Isis video shows militant with British accent 'execute US journalist' – and warns Obama of more to come
Iraq crisis: Islamic State's message to America - 'We will drown you all in blood'
Ferguson: In the heartlands of America, a descent into madness
Isis threat: Cameron wants an alliance with Iran
Crisis? What crisis? A visiting US doctor gives the NHS a rave review
Scottish independence: English people overwhelmingly want Scotland to stay in the UK
Russell Brand calls for Israel boycott: Comedian urges big businesses that 'facilitate the oppression of people in Gaza' to pull funding
Ukip MEP calls for reintroduction of death penalty on fiftieth anniversary of last deaths
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
iJobs Money & Business
£475 - £550 per day + competitive: Orgtel: Senior Technical Accountant-Insuran...
£200 - £290 per annum + competitive: Orgtel: Sales Performance Manager, Key Ba...
£25000 - £30000 per annum + bonus+benefits+package: Harrington Starr: Junior D...
£600 - £800 per day: Harrington Starr: Java/Calypso Developer Java, Calypso, ...